Gold prices in Pakistan have reached a new record high, driven by soaring international rates. According to the Karachi Sarafa Association, the price of 24-carat gold increased by Rs. 700 per tola, reaching Rs. 260,700. Similarly, the price for 10 grams rose by Rs. 600, bringing it to Rs. 223,508.

The Sarafa Association noted that the local market price of gold is currently set Rs. 4,000 per tola below its actual cost. Without this discount, the price would have climbed to Rs. 265,000 per tola.

On the international front, spot gold prices surged by 0.7% to $2,522.25 per ounce by 10:14 GMT. The London Bullion Market Association (LBMA) reported that London’s gold price benchmark reached an all-time high of $2,521.55 per ounce during a morning auction today.

This increase reflects a broader trend of rising gold prices globally, often influenced by economic uncertainties and investor demand for safe-haven assets.